So you paid full price eh Mr Hill?
I'd say that's your fault for not reading what you signed.
Besides, I think you did good. If it was me, I'd charge you to take that 1998 Ford off your hands.
it was my first contract it wasn't easy to understand.. anyway from now on I will stay away from the Local guys and I will buy in Dallas from now on( I live a 100 miles South). My car was a POS period. It had MAJOR engine problems and they said they would buy it anyway. They stuck that 1750 rebate in their pocket. I could really care less about the car. I paid 2000 down but that did go towards the price of the car.
( We verbally agreed on 15300)
Actual contract price
18040 purchase price
1750 rebate
1000 trade in
15300 taxable amount
TTL and blah blah blah
2000 down payment
Thought I would put this out there that most people don't realize. Once you say "trade-in" you will always pay full MSRP for vehicle. The only thing you can barder on is the price of the trade in. They might say the price if the new car is going down, but then the price of the trade in goes down as well.
My wife got totally screwed the first time she bought a new car as well. She saw a truck with a 19k sale sign in the window. They told her they would give her 3K for her trade in. In her mind then she was buying it for 16k. (a normal though process-I agree). but then when I was looking at her contract. they sold her the truck at full MSRP of 28k and gave her 3K off that price. so she actually bought truck for 25k. Yeah she was pissed since this car guy was a family friend.
When you are trying to talk down price(notice the first thing they ask is if you have a trade in) don't mention trade in. get the agreed price down in writing, then bring up trade in. They won't like it, but said price is already on paper. You have to do your homework on value of your trade in, but usually you can get lower price of new car to off set the less price of the trade in and you come out ahead. This is something I have learned recently
To prove what I said is also correct, about 6 months ago we were actually thinking of buy the new Beetle. the dealer had 2 new 2012's for sale for 18k. when I did trade in and then looked at the contract, the price of the new 1012 Beetle was 26k. When I said "hold up, I am looking at the car right now through the window with a sale sign on it for 18k" they said "when you do a trade in, they have to use MSRP, but don't worry, we fix the numbers so it all works out in the end" needless to say I walked out and did not buy that car.
Yes you get a better deal on a car if you don't trade one in. What I did on my Sonic was took my car to Carmax. They gave me a bit more then the dealer would. Then to the dealer, I was buying a new car straight up. It is very hard to not lose money when you do a trade in.
Sorry for long rambling--I do think its sucks that most dealers to trick you--all they care about is the all mighty dollar.
I basically paid 15300 plus TTL for the sonic . My 2000 cash downpayment was deducted from the 15300 plus TTL ...but they took a worthless car and a 1750 rebate which wasn't cash outta my pocket anyway. It's not THAT bad when you think about but I will never set foot on that dealership again because it was still wrong. My bank note is for 14900...